Craig-Hallum bullish on Alpha Teknova, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Alpha Teknova (TKNO) with a Buy rating and $12 price target The firm notes this “picks and shovels” company sells tools used in the discovery, development and commercialization of pharmaceuticals and cell and gene therapies as well as in life science tools and diagnostic markets. With an increasing contribution coming from the fastest growing segments of pharma, biotech and C&GT, Craig-Hallum believes the company is positioned to return to double digit revenue growth with prospects for 30%-plus adjusted EBITDA margins in a few years. The firm believes growth investors should own this stock.